The Group of Seven countries’ agreement to exempt American companies from key elements of global corporate minimum tax rules is a “shameful concession” to the US that OECD countries should reject, the chair of the European Parliament’s tax affairs subcommittee said Monday.
The G7 agreement, formally announced Saturday, is a “disappointing act of subservience, an alignment with American interests at the expense of national sovereignty,” Pasquale Tridico, chair of the panel known as FISC, said in a press statement.
The group of advanced economies agreed to a “side-by-side” global minimum tax system in which US companies wouldn’t be subject ...